ISG Renewables, a joint venture between Innova Renewables and Greencoat UK Solar, has acquired the 29MWp Newbold Pacey Solar Farm near Wellesbourne, England, from Innova’s existing pipeline.
The 28.7MWp Newbold Pacey (previously known as Elms Farm Solar Park) in Warwickshire is planned to energise later this year, with its development and construction being managed by Innova.
Once online, the site will produce enough energy to power 10,616 homes, while saving 11,466 tonnes of CO2 a year.
The design of the array also incorporates a bespoke biodiversity strategy, with new and existing habitats being created or enhanced to benefit local wildlife and native species.
This is the third acquisition made by ISG, the first being Carn Nicholas Solar Park, a 10MWp solar farm in Wales in April 2023, and the second being Bicker Fen (previously known as Manor Farm Solar Park), a 22.6MWp solar farm in Lincolnshire, which was acquired in September 2023 and energised in March 2024.
“We are delighted to announce the sale of our third project into our joint venture, ISG Renewables, with Schroders Greencoat,” said Innova investment manager Hassan Bashir.
“The acquisition of Newbold Pacey continues to strengthen and deepen our strategic partnership and contributes significantly towards our shared goal to support the UK’s journey to net zero,” he added.
“On behalf of Innova, I would like to thank our legal advisers at TLT LLP and Morgan LaRoche for their support throughout the sales process.”
Schroders Greencoat investment director Matt Tingle added: “The acquisition of 27.8MWp Newbold Pacey solar farm builds on our joint venture ambitions with Innova to realise their development pipeline of newbuild solar projects across the UK.
“We look forward to seeing the site deliver reliable power generation to the local grid, which in turn delivers reliable cashflows for investors.
“We look forward to continuing to invest in such projects with Innova for the benefit of UK energy security and net zero commitments.”